Planned Giving & Estate Gifts

You may choose to give a percentage of your estate, a specific dollar amount, or certain assets, such as real estate or a retirement account.

With the help of an attorney, you can include language in your will or trust specifying a gift made to Purdue Northwest as part of your estate plan, or you can make a bequest using a beneficiary designation form.

If you have already included a bequest to Purdue Northwest as part of your estate plan, please let us know by completing this form so that we may recognize you for your generosity. You may also choose to remain anonymous.

The method used to make a bequest will depend on the type of gift you choose to leave to Purdue Northwest. We welcome the opportunity to hear your thoughts, assist with any questions, and meet with your trusted advisors to define next steps. Bequests of real estate, personal property, business interests, and cash are typically made by way of a will, revocable trust, or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.

Other bequests—such as those involving retirement assets, insurance policies, bank accounts, and stocks and bonds—are typically made by completing the appropriate beneficiary designation form. Contact your retirement plan administrator, life insurance company, bank, or investment broker and ask them to send you the appropriate “beneficiary designation” or “payable on death” form. To complete your bequest, you will need to complete and sign the form and then send it back to the designated administrator.

The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to Purdue Northwest. The full value of this gift will be transferred tax-free, and your estate will receive an estate tax charitable deduction.

You will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Purdue University Northwest as a beneficiary, Purdue Northwest will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

If you have already included Purdue Northwest as a beneficiary of your retirement assets, please let us know. We would like to recognize you for your generosity.

Contact your life insurance provider, request a beneficiary designation form from the insurer, and include Purdue University Northwest as the beneficiary of your policy. If you have already included Purdue University Northwest as a beneficiary of your life insurance policy, please let us know. We would like to recognize you for your generosity.

If you want to make Purdue Northwest the owner of your life insurance policy, please let us know. We can provide the necessary information your insurance provider will need to make the change.

You transfer cash or property to Purdue Northwest. In exchange, we promise to pay fixed payments to you for life. The payment is dependent on your age, and a portion of each payment may even be tax-free. You will receive a charitable income tax deduction for the gift portion of the annuity.

If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also avoid a portion of the capital-gains tax by making a gift of appreciated securities to fund a gift annuity.

There are different types of charitable gift annuities:

• With a current charitable gift annuity, payments begin within one year. You may transfer cash or property in exchange for our promise to pay you fixed payments. You will receive an income tax charitable deduction this year for the value of your gift to Purdue Northwest.
• With a deferred charitable gift annuity, payments begin at a future date when you are ready to begin receiving payments, such as when you retire. You establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated future date. Best of all, because you deferred the payments, your annual payment will be higher when the payments begin than it would have been with a current gift annuity.
• With a flexible deferred charitable gift annuity, you have flexibility in deciding when payments will begin. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.

You transfer cash or assets to fund a charitable remainder unitrust. In the case of a trust funded with appreciated assets, the trust will sell the assets tax-free. The trust is invested to pay income to you—or any other trust beneficiaries you select—based on a life, lives, a term of up to 20 years, or a life plus a term of up to 20 years.

You receive an income tax deduction in the year you transfer assets to the trust, and Purdue Northwest benefits from what remains after all the trust payments have been made.

A charitable remainder unitrust pays you income that reflects the value of the trust’s assets. Your income has the potential to increase over time as the trust grows in value. There are several unitrust payout options to meet your needs. The best option may depend on the nature of the asset used to fund the trust.

We would be happy to work with you and your tax advisor to determine which payout option is best for you.

You transfer cash or assets to fund a charitable remainder annuity trust. In the case of a trust funded with appreciated assets, the trust will sell the assets tax-free. The trust is invested to pay fixed income to you—or any other trust beneficiaries you select—based on a life, lives, or a term of up to 20 years.

You receive an income tax deduction in the year you transfer assets to the trust, and Purdue Northwest benefits from what remains after all the trust payments have been made.

If you are tired of the fluctuating stock market and want to receive fixed payments, a charitable remainder annuity trust may provide you with the stability you desire.

A charitable remainder annuity trust pays a fixed amount each year based on the value of the property at the time the trust is funded.

Building the Purdue Northwest Endowment is a top priority for several reasons. Because endowments are held in perpetuity and invested for the long term, these gifts provide one of the most secure sources of future revenue.

Like all public universities, Purdue Northwest builds its budget from five income streams: tuition and fees, sponsored funding, internal reallocations, state funding, and private giving. Since the 1980s, state support has accounted for a steadily decreasing percentage of the overall budget. This trend makes private gifts even more critical for Purdue Northwest’s ongoing excellence.

Endowment gifts from alumni and friends enable Purdue Northwest to offer a scholarship to an exceptional student, attract an outstanding professor, buy equipment, enhance a library—small things in the big picture, but indispensable to excellence.

Planning an endowment gift can be a creative, challenging, and rewarding process. Endowment agreements, signed by the donor and Purdue Northwest, delegate to the University the responsibility of administering the funds according to the donor’s wishes in perpetuity.

On December 18, 2015, the U.S. Senate passed the Protecting Americans From Tax Hikes Act of 2015 (“PATH”), permanently allowing IRA transfers to qualified charities free of federal income tax. Qualified IRA account holders can now donate directly from an IRA to Purdue Northwest to help future generations move the world forward.

Your real property may be given to Purdue Northwest by signing a deed transferring ownership. You may deed all or part of your real property to Purdue Northwest. Your gift amount will generally be based on the property’s fair market value, which must be established by an independent appraisal.

Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction. We have adopted gift acceptance policies to limit the acceptance of certain types of real estate, and we encourage you to please check with us before making a gift of real estate. If you are interested in life income options or would like information on the capital gains tax implications of your gift, please contact us.

You make a contribution of your property to fund a trust that pays Purdue Northwest income for a number of years. You receive a gift or estate tax deduction at the time of your gift. After a period of time, your family receives the trust assets plus any additional growth in value.

To learn more about Charitable Gift Annuities or Charitable Remainder Trusts, please contact us at advance@pnw.edu; (219) 989-2323 or by completing this form.

By establishing a charitable remainder trust (CRT) or a charitable gift annuity (CGA), you will provide yourself an income stream for your lifetime. Previous QCD gifts did not allow for this option.

Since the IRA asset is transferred directly to charity, donors do not report the QCD amount as taxable income and do not receive a charitable tax deduction.

While each giving vehicle offers a payment back to the donor, how that rate is determined and how those payments are taxed differs.

CGAs offer fixed-rate payments based on the age and number of annuitants. The entire CGA payment is taxed as ordinary income.

CRTs annually distribute 5% of the trust’s market value. These distributions are taxed based on how the trust earned income.

No. The new legislation limits beneficiary designations to the owner of the IRA or their spouse.

The new giving method and its limits could be applied to anyone with a qualified IRA. If each spouse has a qualified account, you could each establish a CGA or CRT.

To learn more about Charitable Gift Annuities or Charitable Remainder Trusts, please contact us at advance@pnw.edu; (219) 989-2323 or by completing this form.

The tax-free QCD option is only available to IRA owners. You may elect to roll over money from an account such as a 401K to an IRA to take advantage of this giving method.

To learn more about Charitable Gift Annuities or Charitable Remainder Trusts, please contact us at advance@pnw.edu; (219) 989-2323 or by completing this form.

Current legislation allows you to take advantage of this new opportunity only once during your lifetime.

To learn more about Charitable Gift Annuities or Charitable Remainder Trusts, please contact us at advance@pnw.edu; (219) 989-2323 or by completing this form.

Rates are dependent on the age of the donors and the number of annuitants. Current sample rates appear below.

Please contact us for the most accurate rate quote.

To learn more about Charitable Gift Annuities or Charitable Remainder Trusts, please contact us at advance@pnw.edu; (219) 989-2323 or by completing this form.

CGAs are established at a minimum of $10,000, and CRTs have a minimum gift amount of $50,000.

To learn more about Charitable Gift Annuities or Charitable Remainder Trusts, please contact us at advance@pnw.edu; (219) 989-2323 or by completing this form.